The redeveloped Treasure Island would provide 30 percent of the new housing at a below-market rate, according to city officials, but the city legislator that represents the area says half of the units should be affordably priced.
Supervisor Chris Daly’s resolution calls for 50 percent of the 6,000 proposed housing units on Treasure Island to be offered to moderate- and low-income families. At a Board of Supervisors committee meeting Monday, the resolution was criticized by those working on the redevelopment of the former Navy base.
“There is no project at 50 percent affordable housing,” said Jack Sylvan, Treasure Island redevelopment project manager.
The proposed project includes 1,800 below-market-rate housing units, along with 235,000 square feet of retail space, 420 hotel rooms, 300 acres of parkland and the necessary infrastructure.
More affordable units are needed in The City’s larger proposed developments to help tackle one of the biggest issues facing San Francisco, high housing prices, Daly said.
Sylvan said the increase in affordability would result in a $500 million to $600 million increase in costs. Daly suggested that 50 percent is doable if The City considers investing city dollars in the project.
The Board of Supervisors Land Use Committee took no position Monday but referred it to the full board for a vote, which is expected Feb. 26. Daly is also championing a ballot measure that seeks 50 percent affordable housing within a planned development project in Bayview-Hunters Point.